What is the difference between a real estate agent and a real estate broker?

Real estate agents and real estate brokers are two important members of the real estate industry in Delaware. Although both are licensed to handle residential real estate transactions, there are a few key differences that set them apart. Real estate agents are licensed to help clients buy and sell real estate. Agents are typically employed by a broker and receive a commission for the sales they complete. Agents are not licensed to open their own real estate business but must work for a broker. Real estate brokers, on the other hand, are licensed to open their own business. They are responsible for helping clients buy and sell real estate, and they, too, receive a commission for the sales they make. The key difference is that brokers can hire, train, and work with agents, whereas agents are limited to working with just one broker. In addition, brokers must pass a more comprehensive real estate exam than agents. This exam covers advanced topics in residential real estate law, such as financing, title insurance, and working with buyers and sellers. As such, brokers are usually more experienced in the industry and can provide more insight into real estate transactions than agents. In summary, real estate agents and real estate brokers are two important members of the real estate industry in Delaware. Agents are typically hired by brokers and receive a commission for the sales they complete, while brokers are licensed to open their own business and hire, train, and work with agents. Brokers must also pass a more comprehensive real estate exam.

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What is the difference between a real estate agent and a real estate broker?

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